We are beginning a new series on the Innovation Center at Eagleview (ICE) and the companies that call it home. To start, we’ll explore i2n, which makes the Innovation Center concept work! The Ideas x Innovation Network (i2n), an initiative of the Chester County Economic Development Council, is celebrating its first anniversary.
i2n supports emerging growth businesses throughout their entire life cycle by leveraging the assets of academic institutions and partners to create a network of physical and virtual resources. The Chester County Keystone Innovation Zone (KIZ) and Delaware County KIZ consolidated to form the i2n in 2012.
Some of the highlights of the year’s activities include:
- Receiving a Discovered in PA, Developed in PA grant of $532,075 from the PA Department of Community & Economic Development to further establish a regional innovation network including physical innovation centers (incubators).
- i2n launched two Innovation Centers. The Innovation Center at Eagleview in collaboration with The Hankin Group focuses on early stage, life science companies. The Innovation Center at Evolve IP in collaboration with Evolve IP and GPX Realty focuses on early stage, technology-driven companies.
- i2n assisted 10 companies with $25,110 in support for 18 summer interns from 12 educational institutions.
- For the period of July 1 - December 31, 2012, 53 i2n companies reported: $55.7 million in revenue, 87 new jobs created, 43 jobs retained, 14 patents filed or awarded.
- In December 2012, 15 i2n companies received a total of $1,246,830 in KIZ Tax Credits.
- Five i2n companies, including Zeomedix, Inc. that is located in ICE, were awarded $10,000 each through the i2n Microgrant Program supported by the D2PA grant. The grants are designed to help companies make their products and services more commercially viable.
- The i2n companies currently located in ICE include:
- Reniguard Life Sciences Inc.
- Sanjeevita By Audubon, LLC
- PuriSpec, LLC
- PrimBio Research Institute, LLC
- Theraceutix, LLC
- TransSig, Inc.
- Zeomedix, Inc.
- Polyviron Diagnostics, Inc.
- In the last 6 months (January 1, 2013 - June 30, 2013), collectively these companies have had $240,609 in revenue, have 7 full-time employees, have filed 3 patents and have spent $283,096 Research, Development, Testing and Evaluation.
“We can’t tell you how much your help means to us,” says David Noteware, CEO, NextGen Reporting, of the support the company has received from i2n. “We have put the money to good use and have hired four more local employees already using the tools that i2n helped us develop. Over the next year, we anticipate tripling that total and continuing to expand very quickly.” NextGen Reporting is an information technology company focused on court reporting and litigation support. For more information about i2n, visit i2npa.org.
The Chester County Economic Development Council is a private, non-profit economic development organization promoting smart growth in Chester County and the surrounding region for over 50 years. The CCEDC provides proven financing solutions, cultivates workforce talent, leverages business partnerships, and fosters entrepreneurial collaboration. Together, with the support of the private and public sectors, CCEDC initiates, implements and innovates programs that improve the business community and enhance the quality of life in Chester County.
Chester County Economic Development Council 737 Constitution Drive Eagleview Corporate Center | Exton PA 610.458.5700 cceconomicdevelopment.com